Correct Newflow, No Back Interest for Class 19.
Series R (P's) are non-accumulative, therefore NO back interest payments are due because of the BK. Before BK, Series R (P's) share price averaged around $1,300 and the interest payment was ~$76.00. Series R (P's) received two distributions; the 7.75% interest and a Performance payment. That's why Series R (P's) sold for ~$1,300.
The K's matured in 2011. Therefore K's are Redeemable. Done.
TPS became all cash with the 'exchange event'. A BK corporation can't offer new Preferred to TPS holders. Done.
Retained Earnings/Disputed Claim Reserve from the February MOR in NOT property of the WMI-LT. RE/DCR never was placed in the last column for the MOR. The last column is stuff for creditors for payment by WMI-LT.
The 363 Sales is the revenue for the RE/DCR ($33B assets-$8B liabilities :
Capital Contributions; $6.5B
Rabbi Trusts; $5B
...
Totaling $20.7B, now with Treasury Note interest should be $2.5B-$2.8B by now to be distributed 75%/25%. The RE/DCR to fully, and with a bonus pay off Class 19 is the reason why Class 22 received the Estate and Class 22 was NOT cancelled. Class 22 grantees Class 19's generous return with the RE/DCR.
Series R (P's) are still attached to the Preferred funding Trusts. IMO, Series R (P's) will still receive accumulated Performance Payments and future payments from this Trust.
The FDIC-R Balance Sheet is now two Quarters old and JPM has paid for WMB's assets. That is why all the entries are zeros!
HLCE,
Ron
